New startup fund announced at Belgrade Venture Forum

During the Belgrade Venture Forum in Belgrade held this week, the Serbian Minister of Economy Sasa Radulovic announced that there will be a 35 million euro co-fund budget intended for local startups, whereas the government will co-invest from 20% to 40% with foreign investors, which will be attracted to Serbia.

Another state-run investment fund which was announced this summer was never brought to life by the previous Minister of Finance and Economy Mladjan Dinkic, while the current Minister aims to make it happen by making this project part of bigger plan to attract foreign capital to the country. He stated that these funds will be dedicated to a VC Fund that will operate in the country, but how the program will exactly work is yet to be announced.

The Belgrade Venture Forum, held during 19-20 November, brought pitching sessions from startups from Serbia and also panels and presentations by different local and international experts, while the winner of the startup competition was announced Strawberry Energy, a known startup for creating public solar chargers for mobile devices through their Strawberry Tree Stations.

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